articles | 10 January 2014

Cyprus external trade deficit declines by 28%

Cyprus' externaltrade deficit for the period of January-October 2013 declined by 28% or by €1.02 billion year on year due to the significant reduction of imports, amid the continued contraction of the economy.

According to preliminary figures released by the Statistical Service, total imports/arrivals (covering total imports from third countries and arrivals from other Member States) in January-October 2013 amounted to €3,976.3mn as compared to €4,853.1 mn in January-October 2012. Total exports/dispatches (covering total exports to third countries and dispatches to other Member States) in January-October 2013 were €1,347.7mn compared to €1,207.5mn in January-October 2012. The trade deficit was €2,628.6mn in January-October 2013 compared to €3,645.6 mn in the corresponding period of 2012.

In October 2013 total imports/arrivals (covering total imports from third countries and arrivals from other Member States) valued at €421.4mn. Total exports/dispatches (covering total exports to third countries and dispatches to other Member States), including stores and provisions, in October 2013 amounted to €147 mn. Εxports/dispatches of domestically produced goods, including stores and provisions, were €58.9mn whilst exports/dispatches of foreign goods, including stores and provisions, were €88.1mn.

Source: Famagusta Gazette

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